Get the best exchange rate when transferring your British pounds for Australian dollars.
When sending money to Australia — whether to a loved one or for business — make your pounds go further when with a strong exchange rate.
Today’s mid-market rate
The mid-market British pound–to–Australian dollar exchange rate is 1 GBP = 1,62 AUD. (Rate accurate as of February 17, 2017.)
Get the best rate for your GBP > AUD exchange
We’ve gathered today’s best rates to inform your foreign exchange decisions when transferring money from the UK to Australia.
|1 USD =||1.0000||1.3956 Inverse: 0.7165||1.3213 Inverse: 0.7569||0.881764 Inverse: 1.1341||6.7585 Inverse: 0.1480||0.765446 Inverse: 1.3064||71.29 Inverse: 0.0140||19.1548 Inverse: 0.0522||52.14988 Inverse: 0.0192|
|1 AUD =||0.7165 Inverse: 1.3956||1.0000||0.9467 Inverse: 1.0563||0.6318 Inverse: 1.5827||4.8428 Inverse: 0.2065||0.5485 Inverse: 1.8232||51.0824 Inverse: 0.0196||13.7253 Inverse: 0.0729||37.3677 Inverse: 0.0268|
|1 EUR =||1.1341 Inverse: 0.8818||1.5827 Inverse: 0.6318||1.4984 Inverse: 0.6674||1.0000||7.6647 Inverse: 0.1305||0.868084 Inverse: 1.1520||80.849276 Inverse: 0.0124||21.7233 Inverse: 0.0460||59.1427 Inverse: 0.0169|
|1 GBP =||1.3064 Inverse: 0.7654||1.8232 Inverse: 0.5485||1.7261 Inverse: 0.5793||1.1520 Inverse: 0.8681||8.8295 Inverse: 0.1133||1.0000||93.135265 Inverse: 0.0107||25.0244 Inverse: 0.0400||68.1301 Inverse: 0.0147|
How does the British pound trade against the Australian dollar historically?
With strong historical ties between the UK and Australia, the pound and the Aussie dollar has enjoyed a fairly even playing field.
On February 14, 1966, Australia introduced the Australian dollar to replace the Australian pound. The strength of the Aussie dollar became apparent when the British pound was devalued against the US dollar in 1967. The Australian dollar has better resisted global changes ever since.
More recently, the global financial crisis in 2008 affected both the British pound and Australian dollar. The Australian dollar reached highs of 2.474488 per pound in October 2008, from 2.065693 in July of 2008. It gradually strengthened and by August 2009 had dropped to under two dollars per pound.
The effects of “Brexit” on currency exchange
Since Brexit — or Britain’s proposed exit from the European Union — in June 2016, the British pound has declined against several currencies, including the Australian dollar. From June 2016 to July 2016, the GBP to AUD exchange rate went from 1.9675 to 1.7520. It has remained between 1.6 and 1.7 pounds to the Aussie dollar since the Brexit vote.
Though the British pound is historically stronger than the Australian dollar, Brexit could lead to a weaker pound as the British economy remains volatile.
GBP > AUD exchange rate history
We’ve put together the annual average exchange rate for the British pound against the Australian dollar from 2007 to 2016.
|GBP = AUD||1.825806||2.036194||1.826278||1.623018||1.530340||1.553389||1.683697||1.991784||2.187308||2.390299|
Here’s the monthly average exchange rate for the British pound over the past 12 months.
|Month||GBP = AUD|
What affects GBP > AUD exchange rates?
Five main factors affect the British pound and Australian dollar, including monetary policy, price inflation, confidence and sentiment, economic growth using the gross domestic product (GDP) and the balance of payments. These factors can offer a comprehensive view of the direction a currency is going.
A clear example of how this works happened in 2015. Heavy flooding in Australia’s eastern states — particularly in Queensland — affected Australia’s GDP and inflation. A primary factor used to gauge the health of a country’s economy, the GDP went on to affect how the Australian dollar traded in global markets. From June 2015 to February 2016, the Australian dollar remained above 2.0 to the pound.
Compare today’s rates from providers who can send GBP to AUD
By doing your research to find the best exchange rate when transferring money from the UK to Australia, you can make your money go further. With Brexit leaving the British economy on unstable ground, keep an eye on the market before exchanging your pounds to the Aussie collar.